SME Times News Bureau | 28 Dec, 2014
External Affairs Minister Sushma Swaraj Sunday met South Korean Minister of Trade, Industry and Energy Yoon Sang-jick and sought support for India's flagship "Make in India" programme.
Sushma Swaraj reached Seoul Sunday to take part in the 8th India-Republic of Korea Joint Commission meeting, which is scheduled for Monday.
Official sources said in New Delhi that during her meeting with the South Korean minister, Sushma Swaraj talked about the need for a "level playing field" for Indian pharmaceuticals and software exports.
The two ministers also discussed possibilities of addressing the trade deficit which is in favour of South Korea.
The sources said that among the specific issues discussed was the possibility of South Korean co-production of LNG (liquefied natural gas) tankers with Indian shipyards.
The Indian government is considering both outright purchase as well as co-production of LNG tankers, given the projected growth in Indian need for LNG.
The sources said Sushma Swaraj made a strong pitch for South Korean partnership in this vital area of projected growth in Indian requirements.
The Korean trade minister said his country views India as an attractive destination and it was for private companies to take business decisions.
He said South Korea was encouraging its companies to avail of the opportunities that have opened up in India following the new initiatives of the National Democratic Alliance government.
He said there were high expectations in South Korea to enhance economic ties with India in light of the recent developments.
The two ministers agreed that commerce ministers of both countries could meet in the first quarter of 2015 to build on the momentum in the bilateral relations.
Sushma Swaraj is scheduled to meet President Park Guen-hye Monday.
The sources said Sushma Swaraj's Dec 28-30 visit to South Korea was in pursuance of government's "Act East" policy.
